Bill Text: NY A01076 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to termination of membership in a New York state retirement system.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to governmental employees [A01076 Detail]

Download: New_York-2021-A01076-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1076

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                     January 7, 2021
                                       ___________

        Introduced  by M. of A. BRONSON -- read once and referred to the Commit-
          tee on Governmental Employees

        AN ACT to amend the education law and the retirement and social security
          law, in relation to termination of membership  in  a  New  York  state
          retirement system

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The education law is amended by adding a new section 540 to
     2  read as follows:
     3    § 540. Written acknowledgement of membership  termination.  A  teacher
     4  intending  to  terminate  his or her membership in the retirement system
     5  defined in subdivision one of section five hundred one of  this  article
     6  and  the  teacher's  employer  must  both  execute  a  written statement
     7  provided by the retirement board  that  the  teacher  and  the  employer
     8  acknowledge and understand that the teacher, on a specific date, will no
     9  longer  be a member of such retirement system. The employer must, within
    10  thirty days after signature by both parties, file such written statement
    11  with the retirement board in order to  effectuate  such  termination  of
    12  membership.
    13    § 2. The retirement and social security law is amended by adding a new
    14  section 113-b to read as follows:
    15    §  113-b.  Written acknowledgement of membership termination. A member
    16  intending to terminate his or her membership in  the  retirement  system
    17  defined  in  subdivision twenty-eight of section two of this article and
    18  the member's employer must both execute a written statement provided  by
    19  the  office of the comptroller that the member and the employer acknowl-
    20  edge and understand that the member, on a specific date, will no  longer
    21  be  a member of such retirement system. The employer must, within thirty
    22  days after signature by both parties, file such written  statement  with
    23  the office of the comptroller in order to effectuate such termination of
    24  membership.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05184-01-1
        A. 1076                             2

     1    § 3. The retirement and social security law is amended by adding a new
     2  section 411-a to read as follows:
     3    §  411-a.  Written acknowledgement of membership termination. A member
     4  intending to terminate his or her membership in  the  retirement  system
     5  defined in subdivision twenty-eight of section three hundred two of this
     6  article  and the member's employer must both execute a written statement
     7  provided by the office of  the  comptroller  that  the  member  and  the
     8  employer acknowledge and understand that the member, on a specific date,
     9  will no longer be a member of such retirement system. The employer must,
    10  within  thirty  days  after signature by both parties, file such written
    11  statement with the office of the comptroller in order to effectuate such
    12  termination of membership.
    13    § 4. This act shall take effect on the sixtieth  day  after  it  shall
    14  have  become  a  law.    Effective  immediately, the addition, amendment
    15  and/or repeal of any rule or regulation necessary for the implementation
    16  of this act on  its  effective  date  are  authorized  to  be  made  and
    17  completed on or before such effective date.